How Does Quail Finance Work?
Quail Finance works in 3 simple steps. 1. Create Pot => 2. Invite Participants => 3. Rotate Liquidity
Last updated
Quail Finance works in 3 simple steps. 1. Create Pot => 2. Invite Participants => 3. Rotate Liquidity
Last updated
Users can create a pot by setting the following details. Pot Amount - Amount that individual users will contribute No of Participants - The max no. of users that will participate in the pot. Rotation Cycle - Cycle in which the pot will be rotated.
After creating the pot, share the invite links with people that you want to rotate loans with. Please note that participation is “Invite Only” so share links with people that you really trust and vice versa. Only accept invite links from people that you highly trust. Once every user deposits their amount, the pot winner for that round can be selected. Once the creator clicks on “Select Winner”, a raffle will happen and a winner will be selected. The pot winner will be able to claim the pot amount. For the next and following rounds, existing winners are excluded from the raffle. This is to ensure that every user gets their chance to claim the pot.
Rotate loans on a periodic basis such as daily, weekly, monthly, quarterly. Be disciplined. Deposit your due in time and encourage others to do so. Remember social trust is the key factor while rotating loans. And always participate in groups that you trust.
